Question

Machinery costing ₹4000 sold at a profit of ₹1000

Answer 1

Answer: The machinery costing =₹4000

The machinery selling price=₹1000

Then the loss will be 3000

Hence there is only loss in the given question

Answer 2

Cash Account .........Dr. 5000

To Machinery Account .... 4000

To Profit on sale of Machinery

Account.......1000

(Being machinery sold at a profit)